Central bank’s back-up plans for continuity after disaster

The nearly completed Bank of Namibia Business Continuity and Disater Recovery facility situated in Prosperita (Photograph by Hilma Hashange)A new Business Continuity and Disaster Recovery facility which will enalble the cental bank to continue with its operations after a disaster, is nearly completed.
This facility of the Bank of Namibia in Prosperita is currently under construction and is expected to be complete by the end of the first quarter of this year.
Construction on the facility commenced in 2011. The facility is intended to ensure that the bank can continue to perform its operations uninterrupted during and after emergencies. The facility will be equipped with state of the art technology that replicate and back up all critical IT systems.
According to the Director of Strategic Communications and Financial Sector Development at the Bank of Namibia, Ndangi Katoma, the project is a significant capital investment and is of strategic importance to the bank. “The importance of establishing a disaster recovery facility for the Bank of Namibia is to comply with international Core Principle VII of the “core principles for systemically important payment systems” (CPSS). This principle requires an operational system that ensures a high degree of security and operational reliability. It also requires contingency arrangements that should be in place for timely completion of daily processing,” said Katoma.